Preliminary Examination: Current events of national and international importance.

Mains Examination: General Studies II: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.

Key Points to Ponder:

• Why is the UAE leaving OPEC and OPEC+?

• What does the UAE move mean?

• What is the Organisation of the Petroleum Exporting Countries (OPEC)?

• What is the difference between OPEC and OPEC+?

• What does OPEC and OPEC+ do?

• How does OPEC+ influence global oil prices and geopolitics?

• UAE to exit OPEC+ and OPEC—What could this mean for oil prices?

• How much oil do OPEC and OPEC+ countries produce?

• Why OPEC is also called as a ‘cartel’?

• Have other countries left OPEC?

• Which countries are in OPEC and OPEC+?

• Map Work – OPEC and OPEC+ countries

• OPEC+ and India-Connect the dots

Key Takeaways:

• Despite the announcement, oil prices surged over 3 per cent as the primary driver remained supply disruption caused by the largely closed Strait…